Reliant Energy Power Plant Files For Ch. 11

Law360, New York (August 21, 2007, 12:00 AM EDT) -- A Reliant Energy Inc. power plant in Channelview, Texas has filed for Chapter 11 bankruptcy protection, citing a lack of cash needed to repay a $14 million revolving credit facility.

Reliant Energy Channelview LP on Monday filed a voluntary petition for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware along with three subsidiaries. Reliant is hoping to sell the power plant, which is a cogeneration plant that produces electricity and steam.

Reliant spokesperson Pat Hammond said the Channelview plant’s bankruptcy will only affect...